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Crypto

KB Kookmin Bank to launch import-export payments using JPMorgan Kinexys blockchain network

KB Kookmin Bank said on Saturday it will launch next month a corporate payment service for import and export firms using JPMorgan Kinexys' blockchain-based payment network. The service follows a memorandum of understanding on blockchain remittances for cross-border payment innovation. The bank said it is the first time a South Korean financial company has used Kinexys for payments to import-export firms. The service will be available at domestic branches and its Singapore branch, initially supporting U.S. dollar remittances to 10 countries.

Crypto

Lombard Finance launches bitcoin-backed credit product with Flow Traders as pilot partner

Lombard Finance, a bitcoin financial products startup, is launching a new product called the "Bitcoin Onchain Credit Strategy," with global trading firm Flow Traders taking part as a pilot partner. The product is designed to let Flow borrow stablecoins for market-making without posting its own onchain collateral. Instead, bitcoin deposited in Lombard’s Bitcoin Earn yield product serves as collateral through an underwriting structure run on the CAP private credit platform.

Telecommunications & Media

Facebook considers TikTok-style interface with full-screen video on app open

Facebook will test a new interface that shows a full-screen video as soon as users open the app, starting later this year for some users. The Verge reported the test is aimed at responding to users moving to rival social platforms such as TikTok. Meta did not disclose specific examples of the interface. It set initial rollout countries in markets with high demand for video content and is considering expansion to the United States next year.